Submitted By
Tammie Grossman, Development Customer Services Director
Reviewed By
AMZ
Agenda Item Title
Title
A Resolution Approving the Final Program Year 2021 Action Plan for Federal Community Development Block Grants Funds and Submitting this Plan to the U.S. Department of Housing and Urban Development
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Overview
Overview
The Program Year (PY) 2021 Action Plan is part of the five-year PY 2020-2024 Consolidated Plan for Housing and Community Development ("Con Plan"), which guides decisions for allocating Community Development Block Grant ("CDBG") funds. On June 21, 2021, the Village Board approved and released the Draft PY 2021 Draft Action Plan for a 30-day comment period that received no comments. The Board is now being asked to approve the Final PY 2021 Action Plan and allow the Village Manager to submit the Plan to the U.S. Department of Housing and Urban Development.
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Recommendation
Recommendation
Approve the resolution approving the Final PY 2021 Action Plan and authorize the Village Manager to submit the Plan to the U.S. Department of Housing and Urban Development.
Fiscal Impact
There is no fiscal impact on the Village.
Background
Each year, the Village must prepare an Annual Action Plan ("Action Plan") in order to receive Community Development Block Grant ("CDBG") funds from the U.S. Department of Housing and Urban Development ("HUD"). The purpose of the CDBG Program is to meet the needs of primarily low- and moderate-income persons. The Action Plan describes the funding allocations the Village is making for Program Year 2021 ("PY 2021"), which starts on October 1, 2021, in order to serve these populations.
The Village will receive $1,653,543 in CDBG funding for PY 2021 from HUD. Additionally, the Village will be adding $530,667 in returned funds (funds that were previously returned by grant sub-recipients because their entire allocation was not needed) and $159,487 from the revolving loan fund (recaptured CDBG loan funds from the S...
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